City Mumbai Financial News

NCP chief Sharad Pawar's supporters thronged his residence in south Mumbai on Wednesday, hours ahead of the show of strength meetings convened by him and his nephew Ajit Pawar who has parted ways to become Maharashtra deputy chief minister. The Sharad Pawar and Ajit Pawar factions of the Nationalist Congress Party are holding their meetings in Yashwantrao Chavan Centre in south Mumbai and in Bhujbal Knowledge City in suburban Bandra, respectively, on Wednesday.

Suraj Rajbhar, aged 10, and Durga Devi, aged 48, were struck by lightning in the Shadiabad area. In response to these unfortunate events, the district administration has announced that the family members of the victims will receive financial assistance in accordance with established norms. The administration will proceed with post-mortem examinations of the deceased individuals to facilitate the necessary support.

Ajit Pawar has also issued a notice on Tuesday to all current and former legislators, parliamentarians, office-bearers, working committee members, and others, asking them to attend a meeting convened by Sunil Tatkare, the Maharashtra unit president appointed by the group, at the MET institute's premises in suburban Bandra at 11 AM on Wednesday Sharad Pawar named Jitendra Awhad as chief whip after nephew Ajit Pawar joined the Shiv Sena-BJP government with eight other MLAs on Sunday. Ajit's dramatic move has changed the political equations in the state ahead of Lok Sabha and assembly polls next year and has ramifications for national politics. The NCP led by Sharad Pawar has moved a petition before Speaker Narwekar, seeking the disqualification of Ajit Pawar and eight other MLAs who have taken oath as ministers in the Eknath Shinde-led government.

Mumbai, the city's IMD regional centre has issued a 'yellow alert' for next three days, predicting heavy to very heavy rainfall at isolated places. The Regional Meteorological Centre has issued a 'yellow alert' for Mumbai from Wednesday to Friday i.e. from 5-7 July.

Colaba: This region is expected to receive rainfall till Friday with a generally cloudy sky Santacruz: Cloudy sky with heavy rain likely in Santacruz till Thursday. The IMD predicted moderate rainfall on Friday and Saturday and light showers on Sunday and Monday.

A post shared by Viral Bhayani (@viralbhayani) However, the latest airport pictures of Shah Rukh Khan came as a pleasant surprise to his fans and netizens, as he appeared completely fine with no visible signs of injury. Wearing a blue hooded sweatshirt, white t-shirt, blue denim trousers, a black cap, sunglasses, and a statement bracelet, the celebrated star greeted the paparazzi with a smile as he exited the airport, reported Pinkvilla.

Air India and Vistara have told the Competition Commission of India (CCI) that there will be no adverse impact on competition due to their merger as rivals are present on most routes that the combined entity will fly, said people with knowledge of the matter. The CCI's scrutiny will not have any material business impact, although it could have an effect on the timeline, they said.

Bengaluru/Mumbai: About eighty minutes into the virtual annual general meeting of Tata Consultancy Services Ltd (TCS) on Friday, Hyderabad resident and company shareholder Praful Chavda asked the question everyone tuning in had been anticipating. “Sir," Chavda started, speaking in Hindi, addressing TCS chairman Natarajan Chandrasekaran, who is also the chairman of parent Tata Sons, one of India’s largest and best-regarded business houses. “There was this news in the media where it was mentioned something was wrong with the recruitment process." Chavda was referring to the bribes-for- jobs scam at TCS, which was first reported by this paper on 23 June.

MUMBAI : The Indian Banks’ Association (IBA) is working on a proposal to establish a common customer care centre to serve all its 12 public sector bank (PSB) members, aiming to save on costs and offer a consistent customer experience, two people aware of the development said. The idea is to provide a single helpline number that customers across banks can dial for queries and complaints. According to the proposed plan, an interactive voice response (IVR) system would greet customers and address initial queries, with calls transferred to respective bank call centres to address complex issues that require human intervention, the people said on condition of anonymity.

MUMBAI : Canada’s Brookfield Asset Management, one of the world’s largest renewable and infrastructure investors, has been investing aggressively in the Indian market, boosting its energy assets in the country fourfold to 16,000MW in just a year. In an interview, Nawal Saini, managing director of Brookfield’s Renewable Power and Transition Group, spoke about investments, opportunities in the country and the importance of India in its global expansion plans. Edited excerpts: We have been growing very consistently in the last four or five years.

Mint exclusively reported on 29 June that the civil aviation regulator will conduct an audit of the airline next week to assess its preparations for the launch. Go First has sought approval for restarting operations. A team of officials from the Directorate General of Civil Aviation (DGCA) started the special audit of the facilities of Go First in Mumbai on Tuesday, according to an airline executive.

MUMBAI : Piramal Group has rolled out a retention plan in which 280 of their middle and senior management will get long term incentive compared to 70 of the top brass earlier. The new incentives come at a time when there is an increasing demand for experienced senior executives in financial and pharma sectors.

MUMBAI : TPG-backed healthcare platform Asia Healthcare Holdings (AHH) is planning to expand its healthcare offerings by incorporating a new specialty in the current financial year, according to executive chairman Vishal Bali. AHH owns Nova IVF (in-vitro fertilization clinics) and Motherhood Hospitals, “Now that Motherhood and Nova have scaled so well over the last few years, I believe we should have one more specialty in FY24, because it gives us a new growth cycle. Work is on, on that front," Bali added.

NEW DELHI : Epsilon Advanced Materials (EAM), a battery material firm based in Mumbai, is planning to enter the US market with financial support from the car manufacturers it will be supplying its products to, said Vikram Handa, managing director, EAM. The company is also looking for a strategic partner and may look at tapping the equity market after 2025, he added. Elaborating on its strategy to fund a large capital expenditure plans, Handa said a firm like Epsilon enter long-term contracts with key automobile manufacturers, who fund the capex plan.

Mumbai Airport on Tuesday announced it has expanded its security check facility at its international terminal with the addition of eight security lanes. Besides, the facility has also expanded its total processing area to 5,735 sq metres from 4,370 sq metres earlier as part of the second phase of the capacity enhancement initiative, it said.

NEW DELHI : Government laboratories have received around 300 cough syrup samples for quality testing after the embarrassment of toxic syrups causing deaths abroad. Indian-made cough syrups have been linked to the death of dozens of children in Uzbekistan and Gambia, prompting the government to tighten the export policy for cough syrups.

Maharashtra political crisis: Ajit Pawar faction Nationalist Congress Party (NCP) leader, rebel, and formerly Sharad Pawar's closest aide Praful Patel countered his ‘mentor and Guru’ statement that only the party of which Pawar senior is president and Jayant Patil the Maharashtra unit chief should use his photograph. Earlier, Sharad Pawar imposed a blow to the Ajit Pawar faction of defectors and said that those who "betrayed" his ideology should not use  his photograph.  Later, Praful Patel said, "Sharad Pawar is our mentor and Guru...we will always respect and regard him and his position, he is a father figure to all of us.

₹155 per kg across major cities in the country due to the supply disruption caused over heavy rains amid monsoons in the producing region, according to official data. In metro cities, retail tomato prices were ruling in the range of ₹58-148 per kg, with the highest in Kolkata at ₹148 per kg and lowest in Mumbai at ₹58 per kg. In Delhi and Chennai, prices were ruling at ₹110 per kg and 117 per kg, respectively.

Real estate consultant Knight Frank India said housing sales have dipped 1 per cent to 1,56,640 units in January-June from 1,58,705 units in the year-ago period. In contrast, gross office space leasing increased 3 per cent to 26.1 million square feet from 25.3 million square feet. c The period also witnessed second-highest half-yearly residential sales volume in 9.5 years.

Dushyant Chautala said late Tuesday, a development many restaurant owners said would give a significant boost to revenues and night life in cities like Gurgaon and Chandigarh, which have a large young population. “There will be no restriction on restaurants to close at night; no one can force them to shut down,” the minister said at a state-level meeting of multiple departments. Industry executives welcomed the development, stating that the move would be a win-win for all stakeholders.

Made on a shoestring budget of Rs 2.5 crore, Ram Gopal Varma’s ‘Satya’ went on to be a bona-fide success at the box-office, earning Rs 15 crore. It also kickstarted the career of two Bollywood veterans — actor Manoj Bajpai and director Anurag Basu (who co-wrote the film with actor-screenwriter Saurabh Shukla) who would go on to be the doyens of indie/art films in Bollywood. The ‘Satya’ cast recently went on a trip down the memory lane.